Wednesday, November 10, 2010


Fascinating that the Deficit Reduction Commission set up to study how to reduce the debt from 13.8 Trillion as well as the Trillion dollar deficit, has proposed a plan that:
1. They say cannot be passed.
2. Still will not result in a balanced budget.
3. Only reduces the deficit by .75T and the debt by not one penny.

Now, I am one of those 7 Billion people on this swirling orb we call Earth, who does not understand the fine art of MACRO-economics, but, I say this: Everyone who thinks we can reduce spending and get ourselves out of this horrible economy that Bush and the Democratic Congress created in 2003- 2010, is nuts! This includes every politician -- evidently, every Republican just elected, and some of the Democrats -- who is calling for "lower spending and no new taxes!"

We are living in monumentally corrupt times. When I peer through my future scope, I see violence on a MACRO-scale. As the middle class dwindles and the wealthy class gets wealthier, there will be big trouble.


BILL said...

As always I enjoy reading Birches, however I am beginning to feel that there may be a left leaning, Democratic Party supporting dominance in the editorials and comments. Of course I may be wrong. However I will keep reading to see if there is more evidence to support or counter this thought.


Bud said...

Left leaning, definitely. Democratic Party, definitely NOT.

I'm beginning to recognize that I also have a strain of Libertarianism.

Bill said...

It is good to see that Bud is maturing and showing the wisdom of age. Hopefully some day there will be a majority of moderates and independents instead of a small percentage.

Sparty said...

What is an independent? My experience has been that those who vote most of the time for one party but occassionally for a candidate from the other party will call themselves independents. Are they really independent or are they kidding themselves?

Bud said...

Perhaps Bill ha slightly misunderstood what I'm saying. I don't think of myself as a moderate.

Irish Mike said...

Maybe if Dems would have been bragging about their accomplishments instead of running from them. Ezra Klein in this week makes a good argument in this weeks Newsweek.


Bud said...

SPARTY sends this from Nobelist Krugman.

Unserious People:
OK, let’s say goodbye to the deficit commission. If you’re sincerely worried about the US fiscal future — and there’s good reason to be — you don’t propose a plan that involves large cuts in income taxes. Even if those cuts are offset by supposed elimination of tax breaks elsewhere, balancing the budget is hard enough without giving out a lot of goodies — goodies that fairly obviously, even without having the details, would go largely to the very affluent.
--Paul Krugman

Irene said...

I just heard on BBC radio that the new conservative government is going to "streamline" the welfare system and get people into work. One problem - there are no jobs.

Bud said...

In the US, employers tend to shove workers over 55 out the door, or buy them off to quit; and the employers are certainly not going to hire people over 50 or so. Now, where will we employ all these 66-69 year olds we want to dump on the job market?

Alice said...

Good question. I couldn't even get a seasonal part time at Baynes Apple gift store when they were hiring 18 people; even though I have years of retail experience, have won numerous awards for sales ability and PR. Oh, and did I say I happen to be 68 years old. I wouldn't even qualify for SS under the new proposal.